Bloomberg

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NEWS BROKER DEALERS JUN 12, 2007
NPH chief named to follow Dreffein

James Livingston has been tapped as CEO of National Planning Holdings, replacing Shawn Dreffein.

INVESTING ALTERNATIVES JUN 12, 2007
Hedge fund to buy surplus lines insurer

Hedge fund D.E. Shaw has formed a Bermuda-based holding company to acquire James River Group Inc. for $575 million.

INVESTING ALTERNATIVES JUN 12, 2007
Hong Kong eases way for hedge funds

Hong Kong is simplifying the licensing agreements for overseas hedge fund managers looking to set up shop in the territory.

RETIREMENT LIFE INSURANCE AND ANNUITIES JUN 11, 2007
The Hartford names president and COO

The Hartford Financial Services Group Inc. has tapped Thomas M. Marra to take on the combined position of president and chief operating officer.

INVESTING ALTERNATIVES JUN 11, 2007
Treasury official: beware complacency

The hedge fund industry is at risk of being lulled into a false sense of security that could expose the broader financial markets to additional risks, according to Anthony Ryan, assistant secretary of the Treasury for financial markets.

NEWS WIREHOUSES JUN 11, 2007
Suit alleges misuse of sweep programs

Merrill Lynch, Morgan Stanley, Smith Barney and Charles Schwab are being sued for allegedly illegally forcing clients into lower paying deposit accounts, enabling the firms to reap “billions” in extra profits.

INVESTING ETFS JUN 11, 2007
SSgA sweetens pay for wholesalers on ETFs

In an effort to catch industry leader Barclays Global Investors, State Street Global Advisors has raised the wholesalers’ compensation for effecting the sale of exchange traded funds and lowered the amount it pays for effecting sales of its mutual funds and separately managed accounts.

INVESTING MUTUAL FUNDS JUN 11, 2007
It is high noon for 12(b)-1 fees

The SEC plans to decide by the end of the year whether to reform 12(b)-1 fees or eliminate them altogether, and proponents of both alternatives are poised to try swaying its decision.

RETIREMENT LIFE INSURANCE AND ANNUITIES JUN 11, 2007
Insurers meld LTC into life insurance

More insurers are offering riders that include long-term-care coverage in life insurance policies.

NEWS BROKER DEALERS JUN 11, 2007
A.G. Edwards reps await retention package

Wachovia Corp. last week put the finishing touches on its retention package for brokers with A.G. Edwards Inc., and the company plans to announce details as early as today or as late as Wednesday.